The Procurement Outsourcing Services industry has enjoyed buoyant conditions over the five years through 2014-15. Industry revenue is estimated to grow at an annualised 10.2% over the period to reach $93.1 million. With the industry's markets being highly diversified, it has benefited from the growing number of Australian businesses. These businesses are also increasingly outsourcing their activities, which has supported demand for outsourced procurement services.
An overall increase in business confidence has backed growth in procurement activities and volumes. Some of these activities are outsourced to the industry, benefiting industry revenue.
Companies in this industry act as a third party to provide procurement services for clients, including direct and indirect procurement. Procurement outsourcing allows client companies to reduce costs, improve efficiency and enhance performance.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.